Citi report forecasts major changes in corporate finance over the next three to five years, with DLT and AI playing a role

Citi GPS released a report, Finance 2030, which explores the future direction of the corporate finance function. A survey found that 93 per cent of corporate treasurers surveyed believe there will be significant changes to the corporate finance function in the next three to five years, but more than half are unsure how these changes will be.
The report identifies artificial intelligence (AI) and distributed ledger technology (DLT) as two technologies that are likely to drive this change. However, the immediate priority is to improve data access for decision making. Two key changes are moving from batch processing to 24/7 activities, accompanied by automation driven by artificial intelligence. The report argues that corporate treasurers' responsibilities need to expand beyond managing financial risk, cash and money. Given that receipts and payments affect cash balances and are increasingly real-time, they say digital payment channels should be within the treasurer's remit.